The Simplex Super Bureau offers global transaction services supported by an integrated stack of value-added technology. Sword FircoSoft’s filtering solution, Firco Continuity, is available to Simplex’s customers through its Super Bureau platform and allows financial institutions to filter their inbound and outbound SWIFT transactions in real-time, against the tested and proof-read sanctions lists provided by Sword FircoSoft’s Firco List Service.
Additionally, Simplex and Sword FircoSoft will now co-operate to offer Firco Trust, which enables clients to enhance their KYC capabilities by facilitating periodic scans of large customer databases, as well as on-line checks made when new accounts are opened, to identify potential high-risk financial customers and politically exposed persons (PEPs).
Philip Walsh, chief executive of Simplex, said: “By using our Super Bureau platform, customers can be sanction-compliant, both locally and internationally without investing in an in-house solution and having to maintain and update the lists internally.”
John Nash, global alliances director of Sword FircoSoft, said: “The integration of our watchlist filtering solution on the Simplex Super Bureau will offer new opportunities to the customers to remain compliant with the latest anti-money laundering and counter-terrorist financing regulations. We are excited about the new market opportunities this new offer will bring to Simplex and Sword FircoSoft.”
